*This is a public service announcement.
The temporary Public Service Loan Forgiveness (PSLF) Waiver will expire on October 31. This temporary waiver was designed to aid those working in public service who previously faced difficulties in applying or qualifying for the PSLF Program.
The PSLF Program forgives the remaining federal student loan debt of people who work for the U.S. federal, state, local, or tribal government or qualifying nonprofit organizations after they make 120 monthly payments under a payment plan.
Last year, the Secretary of Education Miguel Cardona announced a temporary PSLF waiver that makes it possible for borrowers who currently or previously worked for a qualifying employer to receive credit for past loan payments that previously did not qualify towards PSLF. Until Oct. 31, under these temporary changes, borrowers can now get credit for partial payments, late payments, payments on ineligible loans, and payments made under ineligible repayment plans.
In order to apply by Oct. 31:
- if needed, apply to consolidate into the Direct Loan program, and
- complete the PSLF application (known as the “PSLF form”) using the PSLF Help Tool and have at least one PSLF employer sign the form.
You only need to have applied to consolidate your loans, and have completed and downloaded the time-stamped PSLF form. WHEN IN DOUBT, APPLY!!
The Leadership Conference previously hosted a webinar intended for PSLF recipients to walk through how to take advantage of this waiver. If you qualify, or know of someone who does, please feel free to share this webinar to learn more about how you can take advantage of the PSLF waiver before it ends on October 31!
You can watch the webinar here, and learn how to apply here or visit www.pslf.gov.
Webinar here:
Source: Press The Leadership Conference Education Fund .